With a highly fragmented vendor landscape, the global power system analysis software market is characterized by the presence of large number of regional players spread across geographies. Leading players within the market have established their status by making their presence felt across the globe through strategic alliances and mergers and acquisitions. With a large number of service providers, the global power system analysis software market can be characterized as being extremely competitive in terms of product offerings. General Electric Company, Siemens AG, ETAP, and ABB are the top players within the market. Leading players within the market are focusing extensively on new product development with the motto of increasing the efficiency of the software, states Transparency Market Research (TMR) in its latest research.

According to Transparency Market Research, the global power system analysis software Market be worth US$11,585.7 mn by 2025, expanding at a CAGR of 12.7% between 2017 and 2025. On the basis of geography, it is expected that North America will continue to lead in the market. This region accounted for 33% of the total market in 2016, driven by smart grid systems. In terms of fastest growth, it is expected that Asia Pacific will expand at the fastest CAGR during the assessment period, led by China, India, Japan, and Australia. In terms of implementation model, this market is segmented into cloud-based and on-premise. Of these the on-premise implementation segment accounted for a whopping 81% of the total revenue generated from the overall power system analysis software market in 2016. This growth is on account of on-premise implementation at power utilities buildings. On the other hand, the cloud-based implementation segment will exhibit a steady growth in the forecast. On account of the growing penetration and widespread outreach of the internet.

Increasing Investments in Smart Grid Technology Bodes Well for Market

According to a TMR analyst, the primary factor fuelling the demand for power system analysis software is the rapidly increasing investments towards smart grid technology. Across the globe, the demand for electricity has increased. This can be attributed to the growing industrialization and urbanization. Therefore, the surge in the demand for electricity has compelled utility companies to boost their production of energy including setting up new power transmission networks as well as boosting their existing power transmission capacity. Utility companies are also focusing on expanding or increasing the capacity of the existing power lines and grades as well as any other associated infrastructure which can enhance the efficiency of electricity production and transmission. With smart power technology requiring system analysis software for the monitoring of great performance as well as for enabling condition-based maintenance, the growth of the power system analysis software market is assured during the forecast period from 2017 to 2025.

Government Initiatives to Boost Smart Power Technologies to Drive Market
Apart from all these factors, the global power system analysis software market also receives impetus from government bodies as well as regulatory agencies which are advocating the implementation of smart power technologies. Government bodies are boosting the adoption of smart water technology by providing incentives. In addition to this, regulatory mandates by concerned bodies will also help boost the growth of the global power system analysis. With increasing deployment of smart grid technology in developing nations, the demand for power system analysis software is also increasing.

For the study, the power system analysis software market has been segmented as follows:

Power System Analysis Software Market, by Implementation Model

On-premise

Cloud-based

Power System Analysis Software Market, by Application

Distribution

Transmission

Power System Analysis Software Market, by Geography

North America

The U.S.

Rest of North America

Europe

EU7

CIS

Rest of Europe

Asia-Pacific

Japan

China

South Asia (India, Pakistan, Bangladesh, and Sri Lanka)

Australasia (Australia, NZ, and Guinea)

Rest of Asia Pacific

Middle East and Africa (MEA)

GCC Countries

South Africa

Rest of the Middle East & Africa

Latin America

Brazil

Rest of Latin America

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.